Jay Mehta remembers the moment well: He and the staff at Fireworks Diamonds were working on a new oval cut in hopes of creating something brighter and unique for the market when their toughest customer walked in.
Her opinion would indicate whether the oval was a success. That woman? Varsha Mehta, Jay’s mom. The namesake of Varsha Diamonds, Fireworks’ parent company, knows this precious stone well from her more than 50 years of experience in the industry.
“She has seen so much, so when she saw this diamond that we cut and were in the process of evaluating, we knew her trained eye would determine what we should do next. She saw it as something exceptional” says Mehta, partner and director of operations for Los Angeles–based Fireworks Diamonds, a natural diamond and jewelry brand.
If mom knows best, they had captured something special for the diamond marketplace. Fireworks debuted its limited-edition Woman on Fire collection using Fireworks Ovals this spring, and Mehta says he hopes to see the company’s work on the hands, ears, and necks of many moms in the weeks to come.
Mother’s Day will be big this year: Consumers plan to spend $35.7 billion on Mother’s Day this year, nearly $4 billion more than last year’s record high of $31.7 billion, according to a just-released survey from the National Retail Federation (NRF).
“Mother’s Day provides Americans with an opportunity to honor important women in their lives,” NRF president and CEO Matthew Shay said in a statement. “As people make plans to celebrate this year, retailers are prepared to help shoppers find gifts of appreciation and admiration for those they want to recognize on this special day.”
The NRF survey also shows that consumers will spend $7.8 billion on jewelry for Mother’s Day and that gifts of jewelry, electronics, and apparel are the primary drivers of growth this year.
“This is for the luxury market, so we wanted to find our niche,” Mehta says of the Fireworks Oval, adding that Mother’s Day isn’t only a major holiday for the jewelry business but for his family personally. Varsha’s husband, Pankaj Mehta, founded Varsha Diamonds, and their son Nick is its vice president.
“Our mom’s inspired us in so many ways,” Jay Mehta says. “In my life, I have been raised by, accompanied by, and surrounded by many strong and dynamic women. In a way, this collection and this type of diamond is my way of honoring and appreciating them.”
Fireworks put the special oval cut in solitaire earrings, a ring, and a necklace in the Woman on Fire collection. “The Fireworks Oval is cut for beauty, not size,” Mehta explains. “The oval cut has been one of the most popular [diamond shapes] for the last five to seven years in the marketplace. But the biggest challenge and complaint from sellers and customers is that there can be dark fields or that dark bow-tie effect in the stone.”
While consistently delivering perfect polish and symmetry with an significantly large oval diameter, the Fireworks brand has created a proprietary and a 21st century innovation for jewelers, Mehta says. He hopes women of all ages will appreciate this specialty cut and it will end up in a variety of jewelry, including engagement rings.
“It’s something signature for the brand,” Mehta says.
Top: A ring with Fireworks Diamonds’ new oval cut, which is used in a limited-edition jewelry collection. (Photos courtesy of Fireworks Diamonds)@jckmagazine
Follow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine